Oncobiologics, Inc. (NASDAQ:OTLK – Get Free Report) has received an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $6.50.
OTLK has been the subject of several research analyst reports. Wall Street Zen raised Oncobiologics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. BTIG Research reiterated a “neutral” rating on shares of Oncobiologics in a report on Monday, May 18th. Weiss Ratings upgraded Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Finally, Ascendiant Capital Markets increased their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th.
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Institutional Investors Weigh In On Oncobiologics
Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in shares of Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after acquiring an additional 21,941 shares during the last quarter. AQR Capital Management LLC boosted its position in Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after purchasing an additional 25,351 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after purchasing an additional 44,063 shares in the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.
Oncobiologics Stock Down 1.4%
Shares of NASDAQ:OTLK opened at $1.45 on Friday. The company’s fifty day moving average is $0.78 and its two-hundred day moving average is $0.69. Oncobiologics has a 12-month low of $0.16 and a 12-month high of $3.39. The company has a market cap of $215.46 million, a P/E ratio of -1.24 and a beta of 0.77.
Oncobiologics (NASDAQ:OTLK – Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $4.39 million. Equities research analysts anticipate that Oncobiologics will post -0.48 earnings per share for the current year.
About Oncobiologics
Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics’ research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.
Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.
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